Drivers and consequences of sustainability committee existence? Evidence from the hospitality and tourism industry |
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| Institution: | 1. Department of International Trade and Business, Samsun University, Samsun, Turkey;2. CERIIM, Excelia Business School, France;3. Murray State University, Computer Science/Information Systems, Arthur J. Bauernfeind College of Business, Murray, KY, 42071, USA;4. College of Engineering and Technology, American University of the Middle East, Kuwait;1. Faculty of Economics and Business Administration, Ruppin Academic Center, Israel;2. Paris School of Business, France;1. Academy of Hotel and Facility Management, Msgr. Hopmansstraat 2, 4817 JS, Breda, The Netherlands and University of Johannesburg, School of Tourism and Hospitality, 7 Bunting Rd, Cottesloe, Johannesburg, 2092, South Africa;2. 320 Founders College, York University, 4700, Keele Street, M3J 1P3, Toronto, Ontario, Canada;3. Academy of Hotel and Facility Management, Msgr. Hopmansstraat 2, 4817 JS, Breda, the Netherlands;1. École des Sciences de Gestion de l’Université du Québec à Montréal (ESG UQAM), 320, rue Sainte-Catherine Est, Montréal, QC, H2X 3X2, Canada;2. University of Perpignan, CRESEM (EA 7397), 52 avenue Paul Alduy, 66860, Perpignan, France;3. École de Gestion de l’Université du Québec à Trois-Rivières (EGUQTR), 3351, boulevard des Forges, Trois-Rivières, QC, G9A 5H7, Canada;1. Department of Hotel and Tourism Management, Guilford Glazer Faculty of Business and Management, Ben-Gurion University of the Negev, Israel;2. Hospitality and Tourism Program, Pamplin College of Business, Virginia Polytechnic Institute and State University, Israel;3. Department of Hotel and Tourism Management, Guilford Glazer Faculty of Business and Management, Ben-Gurion University of the Negev, P.O. Box 653, Beer-Sheba 84105, Israel;1. Economics and Management School, Shanghai Maritime University No.1550, Haigang Avenue, Pudong District, Shanghai, 201902 China;2. Cardiff Business School, Cardiff University Cardiff, UK;3. International College of Intellectual Property, Tongji University, Shanghai, China;1. Department of Food & Beverage Management, Taipei University of Marine Technology, No. 212, Sec.9, Yen Ping N., Taipei City, 111, Taiwan, ROC;2. Business School, Nanfang College of Sun Yat-Sen University, No. 882 Wenquan Avenue, Conghua District, Guangzhou, Guangdong Province, 510970, China;3. Department of Artificial Intelligence, CTBC Business School, No. 600, Sec. 3, Taijiang Blvd., Annan District, Tainan City, 709, Taiwan, ROC;4. Department of Hospitality Management, Ming Chuan University, No. 5 De Ming Rd., Gui Shan District, Taoyuan City, 333, Taiwan, ROC |
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| Abstract: | This study's objective is twofold: (1) to investigate whether board characteristics predict the existence of a sustainability committee, and (2) to examine whether the establishment of sustainability committees stimulates sustainability reporting, external assurance, and the adoption of the Global Reporting Initiative (GRI) framework in hospitality and tourism (H&T) firms. For this purpose, the data was derived from the Thomson Reuters Eikon database for publicly traded H&T firms from 2013 to 2018. The results indicate that while board size is a significant predictor of sustainability committee establishment, female and independent directors are not. Furthermore, the H&T firms with a sustainability committee are more likely to issue a sustainability report, to get an independent assurance statement on sustainability reporting, and to follow GRI guidelines in configuring sustainability report content and structure. Overall, the results suggest important implications to help H&T firms achieve sustainable goals and to design their boards accordingly. |
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| Keywords: | Sustainability committee Board characteristics Sustainability report External assurance Global reporting initiative framework |
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